State Street Corp Grows Position in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

State Street Corp grew its holdings in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 1.6% in the third quarter, Holdings Channel.com reports. The firm owned 2,725,394 shares of the company’s stock after buying an additional 43,339 shares during the period. State Street Corp’s holdings in Mersana Therapeutics were worth $5,151,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. US Bancorp DE bought a new position in Mersana Therapeutics in the 3rd quarter worth approximately $31,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Mersana Therapeutics in the third quarter worth $34,000. Intech Investment Management LLC purchased a new position in shares of Mersana Therapeutics in the third quarter valued at $52,000. Quarry LP purchased a new position in shares of Mersana Therapeutics in the third quarter valued at $57,000. Finally, Algert Global LLC bought a new stake in shares of Mersana Therapeutics during the 2nd quarter valued at $90,000. Hedge funds and other institutional investors own 93.92% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup initiated coverage on Mersana Therapeutics in a report on Friday, November 15th. They set a “buy” rating and a $5.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Mersana Therapeutics Stock Performance

NASDAQ:MRSN opened at $1.50 on Monday. The stock has a market cap of $185.30 million, a P/E ratio of -2.46 and a beta of 1.40. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 13.35. The business’s 50-day moving average price is $2.10 and its two-hundred day moving average price is $1.94. Mersana Therapeutics, Inc. has a twelve month low of $1.22 and a twelve month high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last announced its earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.08. The business had revenue of $12.60 million during the quarter, compared to analyst estimates of $7.53 million. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. Mersana Therapeutics’s revenue for the quarter was up 63.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.35) earnings per share. As a group, equities analysts predict that Mersana Therapeutics, Inc. will post -0.61 EPS for the current fiscal year.

About Mersana Therapeutics

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet needs. The company develops XMT-1660, a B7-H4-targeted Dolasynthen ADC candidate; and XMT-2056, an immunosynthen ADC. It has research and development collaborations with Janssen Biotech, Inc, Ares Trading SA, Merck KGaA, and Asana BioSciences, LLC for the development of ADC product candidates.